Global Milestone: CIBAFI Announces, in conjunction with COP28, Adoption of Islamic Sustainability Roadmap in Collaboration with IFSB and AAOIFI

Dr. Abdelilah Belatik, Secretary General of CIBAFI, emphasized the importance of this initiative, stating, “Our commitment to sustainability has been ongoing for several years. This initiative, announced in conjunction with COP28 in the UAE, marks a significant step in normalising the role of Islamic finance in promoting sustainability. This collaboration would not have been possible without the coordination and support from the Central Bank of the UAE.”

The signing of the declaration by the secretaries general of the three organizations was witnessed by H.E Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and senior officials from COP28.

H.E. Khaled Mohamed Balama, Governor of the CBUAE, said: “This declaration issued by the Islamic Finance Infrastructure Organisations tends to foster Islamic sustainable finance globally, as it sets clear roadmap and objectives to support Islamic finance industry to integrate further sustainability considerations in their businesses and activities.  The CBUAE is pleased to have supported in the success of these discussions as part of its commitment to promoting sustainability and in keeping with the UAE’s vision of becoming an Islamic finance hub.”

The Islamic Finance Infrastructure Organizations’ Declaration on the Roadmap for Islamic Sustainable Finance is a landmark, fostering collaboration among key players. This empowers the Islamic finance industry to contribute significantly to global sustainability goals.

SOURCE

CIBAFI